Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Given Consensus Recommendation of “Hold” by Analysts

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have earned an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $17.00.

Several research firms have recently commented on GLDD. Zacks Research upgraded shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. cut shares of Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 target price for the company. in a research note on Thursday, March 26th. CJS Securities restated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. Finally, Wall Street Zen upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of large investors have recently made changes to their positions in GLDD. Royal Bank of Canada increased its holdings in shares of Great Lakes Dredge & Dock by 9.9% in the 1st quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock valued at $305,000 after purchasing an additional 3,169 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Great Lakes Dredge & Dock during the 1st quarter valued at about $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Great Lakes Dredge & Dock by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock valued at $341,000 after acquiring an additional 1,653 shares in the last quarter. Empowered Funds LLC purchased a new position in Great Lakes Dredge & Dock during the 1st quarter valued at about $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Great Lakes Dredge & Dock by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock valued at $2,147,000 after acquiring an additional 3,042 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $17.00 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. The firm has a fifty day moving average price of $15.47 and a 200 day moving average price of $15.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. Great Lakes Dredge & Dock has a 1-year low of $8.80 and a 1-year high of $17.02.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.